Washington Federal Bank, a wholly owned subsidiary of WaFd, has disclosed its agreement to sell some commercial multi-family real estate loans to Bank of America for about $2.9 billion. WaFd said in a Friday (May 17) filing with the Securities and Exchange Commission (SEC) that the deal involves 2,000 commercial multi-family...
The year-end-splurge online may come as no surprise. The pullback in the first quarter may come as no surprise, either. The overall movement is upward — where eCommerce is following a long-term trend, moving beyond pre-pandemic levels and showing staying power. But the volatility is...
OpenAI reportedly effectively dissolved its “superalignment team,” which was dedicated to ensuring the safety of future advanced artificial intelligence systems. The decision came in the wake of the departure of the team’s leaders, Bloomberg reported Friday (May 17). Rather than maintaining the team as a separate entity, OpenAI has chosen to...
Google’s latest unveiling of artificial intelligence (AI)-powered search tools has sent ripples through the business world, prompting leaders to rethink their digital strategies. The tech giant’s new features promise to disrupt online information retrieval, leaving companies scrambling to understand and adapt. With Google’s AI search tools...
The Consumer Financial Protection Bureau sued SoLo Funds, alleging that the online lending platform used “digital dark patterns” to illegally collect fees from borrowers. The lawsuit also alleged that SoLo Funds misrepresented the cost of loans, made false threats, collected money consumers didn’t owe, and created a credit scoring model with...
Millennials and Generation Z consumers are not satisfied choosing between digital and physical channels to do their grocery shopping — they want it all. By the Numbers The PYMNTS Intelligence study “ConnectedEconomy™ Monthly Report: The Urban-Rural Health Divide Edition” drew from a survey of nearly 2,500 U.S....
The impact of the pandemic on consumers’ geographic distribution has continued, with shoppers increasingly residing outside of major urban areas, and this trend away from cities is decelerating retail’s digital shift. PYMNTS’ Q1 eBook, “The Implications of Uncertainty,” collects insights from 18 payments industry executives to...
As consumers look for simpler and more intuitive eCommerce experiences, Harvest Hosts sees providing more payment options as key to meeting shoppers’ demand to be able to control how they manage their spending. In an interview with PYMNTS, Neel Mehta, head of product for the company, which provides...
HSBC Bank USA has introduced a checking account for business clients that combines an earnings credit rate (ECR) with credit interest. The new HSBC Hybrid Checking Account earns interest on every dollar deposited into the account, the bank said in a Thursday (May 16) press release. “Every organization has...
